- Associated Press - Friday, April 28, 2017

PROVIDENCE, R.I. (AP) - A former real estate attorney and a former licensed loan originator have been sentenced to federal prison for their roles in a mortgage scam.

Federal prosecutors say 42-year-old Louis Marandola was sentenced Thursday to four years in prison, while 38-year-old Brian McCaffrey got 18 months behind bars on Friday.

Marandola, of Providence, pleaded guilty in January to conspiracy to commit bank fraud and aggravated identity theft. McCaffrey, of Warwick, pleaded guilty to bank fraud.

Three other people involved in the scam had previously pleaded guilty.

Prosecutors say between 2007 and 2014 the defendants got prospective homebuyers to obtain mortgages based upon false loan applications and fraudulent documentation.

At times, the defendants used stolen identities to further the fraud and to conceal their connection to the transactions.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide